Utah Franchise Attorney – Should I Franchise My Utah Business?
Utah Franchise Attorney —
When our clients ask whether they should franchise their Utah businesses, they get excited thinking about all the great benefits from franchising. Our franchise attorneys in Utah try to balance their positive outlook by pointing out the financial and legal risks from franchising.
What Must a Franchisor Do to Succeed?
Franchise success depends upon two conditions: creating a successful business model and selling this business model to prospective franchisees. In today’s tough economic environment, many businesses are struggling to develop and sustain a viable business. And even if the business owner has a viable company, the owner faces the challenge of selling the business model in a highly competitive franchise market. A Utah business law attorney experienced with working with franchisors and franchisees can talk at length on this subject. Also see our article SBA Loans Help Veterans Obtain Franchises through VetFran.
If I Have a Proven Viable Business Model, am I Ready to Franchise?
If a business owner has developed viable business model, the owner has to consider whether the business is successful for various reasons: the business owner’s unique traits–e.g., unusually hard working, unique personality, or special knowledge, something a typical franchisee may lack; a unique market; whether paying franchisee fees will jeopardize business profits; etc..
A viable business owner also needs to determine whether there is enough capital to start a franchise program, which may cost at least $50,000. Then the business owner needs to sell the first franchise. Following that, the business owner needs to take responsibility for the franchisees sold, since franchisees are relying on the franchisor to be successful.
If I am Comfortable About What I Just Read and Still Want to Franchise My Utah Business, What Should I Do Next?
Contact a Utah franchise attorney at the law office of Pearson, Butler & Carson, PLLC. With offices in Salt Lake City Metro Area, including South Jordan and Layton, you can meet with a lawyer in Utah who can discuss more about the pros, cons, and steps required to set up your Utah franchise properly. Call our office at (801) 495-4104 to speak with a Utah franchise attorney.